The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of shareholders who purchased or otherwise acquired Photronics, Inc. (“Photronics” or the “Company”) (NASDAQ: PLAB) securities between December 10, 2025 and May 27, 2026, inclusive (the “Class Period”). Photronics investors have until September 4, 2026 to file a lead plaintiff motion.
IF YOU SUFFERED A LOSS ON YOUR PHOTRONICS, INC. (PLAB) INVESTMENTS, CLICK HERE TO SUBMIT A CLAIM TO POTENTIALLY RECOVER YOUR LOSSES IN THE ONGOING SECURITIES FRAUD LAWSUIT.
You can also contact the Law Offices of Frank R. Cruz to discuss your legal rights by email at info@frankcruzlaw.com, by telephone at (310) 914-5007, or visit our website at www.frankcruzlaw.com.
What Happened?
On May 28, 2026, Photronics released its second quarter 2026 financial results, missing estimates, including revenue of $209 million, a year over year decline, and operating margins of 20.1%, down from 26.4% in the prior year. Further, the Company provided third-quarter guidance below expectations and revealed that the projected seasonal recovery following the Chinese New Year holiday had failed to materialize due to extensive new product launch delays, elevated fab utilization rates, and geopolitical uncertainty.
On this news, Photronics’ stock price fell $19.49, or 36.4%, to close at $34.02 per share on May 28, 2026, thereby injuring investors.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company’s high-end chip design release pipeline was experiencing severe, ongoing bottlenecks due to elevated foundry utilization rates and equipment cost pressures; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Contact Us To Participate or Learn More:
If you purchased Photronics securities, wish to learn more about this action, or have any questions concerning this announcement or your rights or interests with respect to these matters, please click HERE or contact us at:
Law Offices of Frank R. Cruz
2121 Avenue of the Stars, Suite 800
Century City, CA 90067
Telephone: 310-914-5007
Email: info@frankcruzlaw.com
Visit our website at: www.frankcruzlaw.com
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View source version on businesswire.com: https://www.businesswire.com/news/home/20260708650182/en/
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